I've been recording for a bit now (still consider myself a newbie though), but still confused about this issue. Always thought racks were preferably used for live/stage recording, so not aware of any benefits it might have in the studio. Like for instance, if my soundcard has a Mic preamp in it, do I still need a hardware version? Can any1 please point out some of these benefits & if there are software substitutes for the components in a basic rack. Thanks